Lee visits Hanoi's historic site with Vietnamese leader before returning home SEOUL, April 24 (AJP) - President Lee Jae Myung visited a historical site in Hanoi on Friday as the final leg of his itinerary in Viet Nam. Guided by Vietnamese President Tô Lâm and his wife, the first couples of the two countries toured the Imperial Citadel of Thang Long. Located in the heart of Hanoi, the sprawling complex of historic buildings, inscribed as a UNESCO World Heritage site in 2010, blends Chinese, Vietnamese, and French architectural styles, reflec April 24, 2026

South Korea expands cooperation with Moldova as economic pact takes effect SEOUL, April 24 (AJP) - An agreement on economic cooperation between South Korea and Moldova took effect on Friday, according to the Ministry of Foreign Affairs. The agreement aims to strengthen bilateral cooperation across various sectors, including science and technology, energy, and transportation, laying the groundwork for a more comprehensive partnership between the two countries. Under the agreement, the two countries will establish a joint committee to review and impleme April 24, 2026

Seoul pushes for wartime command transfer as U.S. urges caution on timeline SEOUL, April 23 (AJP) - A long-simmering question at the heart of the U.S.–South Korea alliance is once again coming into sharper focus: when — and under what conditions — should Seoul take full wartime command of its own and U.S. military forces on the peninsula? Behind the scenes, officials in Seoul and Washington are quietly diverging over the timeline for transferring wartime operational control, or OPCON, with South Korea favoring an earlier date and U.S. mili April 23, 2026

Chips carry Korea's Q1, but Gulf fallout looms large SEOUL, April 23 (AJP) — From the headline, South Korea’s economy looks robust — gross domestic product posting its strongest growth in more than five years while chipmakers log staggering margins nearing 70 percent. But beneath the surface, the expansion is widely seen peaking, exposing structural fault lines from overreliance on a single sector and mounting inflationary pressure. According to the Bank of Korea on Thursday, the nation’s GDP grew 1.7 p April 23, 2026

South Korean envoy meets Iranian foreign minister in Tehran SEOUL, April 23 (AJP) - South Korea's special envoy to Iran Chung Byung-ha has met Iranian Foreign Minister Abbas Araghchi in Tehran, Iran's Ministry of Foreign Affairs said on Thursday. According to the ministry, Chung, who was dispatched to the Middle Eastern country earlier this month, met Araghchi the previous day. During the meeting, which came about two weeks into his stay there, Chung reportedly sought Iran's cooperation, as he continues efforts to ensure the April 23, 2026

More tax incentives for butane to support small businesses amid surging global prices SEOUL, April 23 (AJP) - Tax cuts on liquefied petroleum gas (LPG) butane products will be raised to 25 percent from around 10 percent to ease fuel costs for small trucks and other commercial vehicles, the Ministry of Finance and Economy said on Thursday. According to the ministry, the cut will take effect on May 1 and run through the end of June, lowering butane prices by about 51 won per liter from previous levels. Butane is widely used by freight and commercial vehicles, meanin April 23, 2026

Lee set to meet Vietnamese PM, discuss ways to boost trade SEOUL, April 23 (AJP) - President Lee Jae Myung, on a state visit to Hanoi, is set to hold a series of meetings on Thursday with senior Vietnamese officials including Prime Minister Lu Minh Hung to expand bilateral cooperation. Lee's meeting with Hung comes after his summit the previous day with Vietnamese President Tô Lâm, who also serves as general secretary of the Communist Party. During the meeting, the two leaders agreed to cooperate across various sectors, in April 23, 2026

UPDATE: Korea's Q1 GDP strongest in more than five years on hot chip demand *Updated with additional information and market response SEOUL, April 23 (AJP) — South Korea’s economy grew at the fastest pace in more than five years in the first quarter, rebounding sharply from a contraction in the previous three-month period, as feverish demand for semiconductors powering the artificial intelligence boom fueled exports and investment. According to the Bank of Korea, gross domestic product expanded 1.7 percent on quarter in the January–March April 23, 2026

Korea's consumer confidence turns negative from energy concerns SEOUL, April 23 (AJP) -South Korea's consumer confidence turned negative for the first time in a year, weighed down by worries over supply-side repercussions on inflation and economic performance from a Gulf-triggered energy shock, data showed Thursday. According to the Bank of Korea (BOK), the consumer sentiment index for April dipped 7.8 points to 99.2, the first time below the 100 threshold in a year. A reading below 100 indicates pessimism outweighs optimism compared with April 23, 2026

Korea's pump prices rise faster than Japan and US SEOUL, April 22 (AJP) - Kuwait’s declaration of force majeure on crude exports is adding to supply concerns at a time when South Korea’s fuel prices are already rising sharply, amplifying the impact of the prolonged Middle East conflict. State-run Kuwait Petroleum Corp. last Friday notified buyers that it would maintain contractual force majeure for an extended period, citing damage to infrastructure and the time needed to restore full operations. South Korea relied o April 22, 2026